Transcenta Holding Limited, a Shanghai-based global biotherapeutics firm with integrated capacities in discovery, development and also manufacturing of antibody-based therapeutics has announced on 23rd December 2020, a US$ 105 million crossover financing.
The latest round brought in a group of new investors like Qatar Investment Authority, and Chinese property developer Country Garden Venture Capital. Existing investors include Sequoia Capital China, life science-focused VC Lilly Asia Ventures (LAV), China Merchants Capital’s sub-fund CCT China Merchants Fund and Teng Yue Partners the company said in a statement.
What Transcenta has to say
“Transcenta has been focusing on discovering, developing and delivering novel and high-quality antibody therapeutics at affordable prices. We appreciate the support of new and existing investors for their confidence in Transcenta. The proceeds from new funding will be used to accelerate our ongoing clinical programs and prepare for commercialization,” said Dr Xueming Qian, Co-Founder and CEO at Transcenta.
“We are excited to welcome new investors in this crossover financing. Joined by multiple long-term investors, including international funds, sovereign funds, as well as China mega-funds, Transcenta is strategically positioned to sustain long-term growth, bringing quality and affordable biotherapeutics to patients worldwide,” commented Dr Jonathan Y. Zhao, Co-Founder and Chairman at Transcenta.
What Chengtong Fund Management has to say
“As the next-generation leader in novel drug development and commercialization, Transcenta is a platform company with fully integrated capabilities focusing on biotherapeutics. We are pleased to join hands with the other new and existing shareholders to support Transcenta along its journey of bringing the best treatment to the market,” Ran Wei, General Manager of Chengtong Fund Management, which manages China Structural Reform Fund quoted.
What China Renaissance has to say
“We are fortunate to have witnessed all the milestones that Transcenta has accomplished since its merger, and pleased to have helped seal the 2 financing rounds. We look forward to more breakthroughs the Company is to bring and the success story it continues to write,” Kevin Xie, Managing Director at China Renaissance, commented.
About Transcenta
The biotherapeutics company was founded by Jonathan Zhao and Xueming Qian and have its headquarters in Suzhou, China. In March 2019, Transcenta, which formed from the merging of HJB and MabSpace Biosciences partnered Eli Lilly to license a collection of biotherapeutics programmes targeting bone diseases. It has a Discovery, Translational and Clinical Research Center in Suzhou, a Process and Product Development Center and Manufacturing Facility in Hangzhou and Clinical Development Centers in Shanghai, Beijing and Princeton, US also an External Partnering Center in Boston, US.
About China Structural Reform Fund
The lead investor China Structural Reform Fund is a state-owned fund tied by ten marquee shareholders like China Merchants Group and China Chengtong Holding Group. It was founded in 2016 and has its headquarters in Beijing, China.
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